Description
The Income Statement is a summative report listing the financial results of an organisation's revenues and expenses over a specific period of time.

It is different to the balance sheet due to the fact that it shows how much an organisation has earned and spent in a specific period of time, rather than a particular point in time. The statement is often used at the end of a business period (either monthly, quarterly or annually). This statement can also be used to evaluate financial performance over previous years to provide data and to evaluate the year over performance.

This basic income statement template is easily editable, allowing you to change the line item descriptions and is set to automatically tabulate your figures.